McGuire Lending Group is here to help you navigate through the mortgage loan process!

Purchasing a home is most likely the largest financial transaction of your life. Unfortunately, most people enter into this transaction blindly and make mistakes that may cost them tens of thousands of dollars over the lifetime of their loan.

Although sharing these secrets may not make me popular with the other Illinois mortgage lenders, I am more concerned that you have all the information you need to make an informed decision when shopping for a mortgage. So, I have created a free guide that contains extremely valuable information designed to help you avoid costly mistakes when navigating the mortgage loan process.

To receive this free guide and other home buying tips, simply fill out the fields below and I will send you your first insider secret by email immediately.

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VA Loans

McGuire Lending Group proudly offers mortgage loan products for active-duty military and veterans in Illinois and Florida. A VA loan is a mortgage loan guaranteed by the U.S. Department of Veterans Affairs (VA) that is available to most U.S. service members. VA loans offer a loan guaranty benefit to help eligible veteran borrowers refinance or buy a home. VA loans do not require any monthly mortgage insurance included in the loan amount, and a veteran borrower could purchase a home without putting any money down.

To check your eligibility for a VA Loan, call us at 630-971-1901 to reach our Illinois office or 941-212-2665 for our Florida Office.

Advantages of a VA Home Loan

You can buy a home with no money down.

You can refinance for up to 100% of the value of your home.

You never have to pay PMI (Private Mortgage Insurance).

Sellers can pay your closing costs.

VA Loans are usually easier to qualify for because the Government insures the loan so that there is much less risk to the lender.

If you already have a VA Loan you might be eligible for a VA Streamline Refinance.

Disabled Veterans may qualify for a waiver of the Funding Fee if they receive any disability payments from the VA or if they are considered to be at least 10% disabled.

If you are active duty you can live almost for free because many times your allotted BAH can cover the mortgage payment. So you live almost for free while enjoying the tax benefits of homeownership.

Basic VA Home Loan Requirements

What can an Illinois or Florida VA loan be used to buy?: Primary residence purchases onlyMaximum Loan Amount: $424,100 for single family home in All Counties of Illinois and Florida with the exception of Monroe County in Florida which has a limit of $529,000.Down Payment Requirement: 0% of the purchase priceAvailable Loan Terms: 5yr or 7yr ARM, 15 and 30 year fixed mortgageIs Monthly Mortgage Insurance Required?: No. This is a great advantage of VA Loans.Are there property Eligibility Requirements: Yes. A home’s general condition is considered during a VA appraisal. VA Minimum Property Requirements or “MPR” are an important part of the VA loan process. One of our VA Loan Specialists can provide the current standards provided by the U.S. Department of Veterans Affairs.Income Eligibility Requirements: No minimum or maximum income limits but you are expected to have a stable, reliable income that can cover your monthly expenses, including the new mortgage payment. Maximum Debt to Income Ratio: Contact a VA Loan Specialist at one of our two offices: IL: 630-971-1901 or FL: 941-212-2664 for the most up-to-date information on the debt to income ratios.Are Seller Paid Closing Costs allowed: Yes. For a VA Loan, the seller may pay up to 4% of the purchase price towards closing costs.Are gift funds allowed?: Yes. For VA Loans, a borrower may receive unlimited gift funds for a primary residence purchase

Get Pre-approved for a VA Mortgage Today

The Mid American Mortgage Team specializes in VA loans in Florida and Illinois. We guide veterans through each step of the VA home loan process. Contact Our Team today to get started on your VA pre-approval.